Small-Cap Miner Jumps Double Digits on Major Strategic Financing

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Thursday, February 19, 2026

Backing your words with monetary action is the strongest vote of confidence in the corporate world. Today, a small-cap miner received exactly that, as a mining major announced a strategic financing, sending the small-cap stock surging on the news.

Thesis Gold Inc. (TSX-Venture: TAU) (OTCQX: THSGF) announced earlier this morning a strategic C$44 million financing anchored by AngloGold Ashanti Plc (NYSE: AU), with participation from Centerra Gold Inc. (TSX: CG) (NYSE: CGAU). Under a subscription agreement, AngloGold Ashanti will acquire approximately 5% of Thesis through a private placement of 13,858,883 common shares priced at C$2.79 each, reflecting the February 18, 2026 volume-weighted average price on the TSX Venture Exchange, for gross proceeds of about C$38.7 million. Upon closing, the companies will also enter into an investor rights agreement granting AngloGold certain participation and financing rights to maintain its ownership stake, along with technical committee representation and other customary protections.

Centerra, which already holds investor participation rights under a prior agreement, has confirmed it will maintain its pro rata position by purchasing 2,059,730 additional shares at the same C$2.79 price, contributing roughly C$5.75 million and bringing its ownership to 9.9% on closing. Combined, the placements are expected to generate total gross proceeds of approximately C$44.4 million. The funds will be directed toward working capital and general corporate purposes, including advancing technical studies at the Lawyers-Ranch gold-silver Project, with closing anticipated around February 26, 2026, subject to customary conditions.

Dr. Ewan Webster, President & CEO commented, "We are very pleased to welcome AngloGold Ashanti as a strategic investor in Thesis. Their investment is a strong validation of the quality and scale of the Lawyers-Ranch Project and the disciplined work our team has completed to date. AngloGold Ashanti's global operating experience, technical depth, and long-term approach to building high-quality mining districts create meaningful opportunities for collaboration as we continue to advance, de-risk, and unlock the full potential of the project."

Shares of TAU are currently up 10.92% at $3.15, while U.S. listed shares climb 12.78% to $2.3232 in mid-morning trading.

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